Lose it! how to monetize your app by Charles Teague

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Charles Teague discusses Lose It!'s freemium business model

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Lose it! how to monetize your app by Charles Teague

  1. 1. Weight loss that fits.™
  2. 2. Launched in 2008 3million+ monthly/active/unique users20million+ users 33million+ pounds lost 65% 35% female male ages 20 - 44 Top 10 Essential App Health & Fitness category Facebook – 89k likes Twitter – 14k + followers available on Android, iOS, Nook, Kindle & web Lose It! Overview
  3. 3. ¡ Lose It! contemplated advertising, affiliate / ecommerce, and other business models ¡ Lose It! launched it’s Freemium business model in 2012 ¡ Now a top free and top grossing health and fitness app, more that 100k premium members
  4. 4. Foundation of Freemium is a great product, long-term relationship with user. ¡ Determine differentiation between free / paid ¡ Best when value / cost are aligned (e.g. the more value the customer gets, the more they pay) ¡ Address particulars of users (for example churn vs. reactivation) ¡ Expect a low conversion rate from free to paid, build a mobile that works with this ¡ Structure release to enable A/B testing of everything Zooming In On Freemium in 2014
  5. 5. Mobile creates new opportunities and challenges for freemium businesses ¡ Free competitors can steal air in competitive landscape ¡ Pricing in a mobile world is a challenge ¡ In-app purchase provides meaningful lift to conversion but do the math since you’re giving up 30% ¡ Android lags conversion significantly ¡ À la carte pricing is an alternative but consider it carefully Zooming In On Freemium Mobile

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